Autodesk (NASDAQ:ADSK) Price Target Raised to $350.00

Autodesk (NASDAQ:ADSK) had its target price lifted by KeyCorp from $323.00 to $350.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the software company’s stock.

Several other brokerages have also issued reports on ADSK. Robert W. Baird increased their price target on shares of Autodesk from $303.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. UBS Group lifted their target price on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stifel Nicolaus cut their price target on Autodesk from $350.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Citigroup reiterated a “buy” rating and set a $374.00 price objective (up previously from $346.00) on shares of Autodesk in a research note on Tuesday. Finally, Oppenheimer reissued an “outperform” rating and issued a $350.00 target price (up from $300.00) on shares of Autodesk in a report on Friday. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $337.18.

Autodesk Price Performance

Shares of ADSK stock opened at $295.35 on Friday. The business’s fifty day moving average is $271.64 and its 200 day moving average is $286.69. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $63.19 billion, a price-to-earnings ratio of 58.60, a PEG ratio of 2.94 and a beta of 1.47. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62.

Insider Buying and Selling

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $534,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephen W. Hope sold 2,452 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now directly owns 3,003 shares in the company, valued at approximately $802,671.87. The trade was a 44.95% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Autodesk

Several hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new position in shares of Autodesk during the 4th quarter valued at about $25,000. Cheviot Value Management LLC bought a new position in shares of Autodesk in the first quarter worth approximately $27,000. SouthState Corp increased its stake in shares of Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Autodesk during the 4th quarter valued at $29,000. Finally, Tradewinds Capital Management LLC boosted its stake in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after acquiring an additional 50 shares during the period. Institutional investors own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.